At a Glance


Venezuela spans 352,143 square miles (912,050 square kilometers) of land that is home to 28 million people of diverse ethnic ancestry.

Financial Facts

  • The country's 2009 GDP is US$329 billion, or US$11,509 per capita
  • Decline of 3.9% from 2008

The U.S. State Department notes that this contraction indicates a decrease in government expenditures and private consumption as a result of a drop in oil prices. The economic contraction continued in 2010 when real GDP decreased by 3.5% during the period January-June 2010 compared with the same period of 2009. The Consumer Price Index increased by 27.9% from September 2009 until September 2010, following increases of 25.1% in 2009, 30.9% in 2008, and 22.5% in 2007.